Recession indicator creator: Fed risks mistakes relying on flawed inflation data

• Fed is being misled by inflation data and potentially making a big mistake, says professor behind popular recession indicator • Professor Campbell Harvey developed widely-used yield curve recession indicator
• Harvey says consumer price index doesn't accurately reflect price changes • Fed should not rely on CPI to make policy decisions, could derail economy • Harvey advises Fed to not rely on inaccurate CPI data that could lead to mistakes